Here are key stocks that moved the most on March 24

Updated : March 24, 2021 03:37:24 IST

The Sensex ended 871 points lower at 49,180 while the Nifty fell 265 points to settle at 14,549.

Shares of specialty chemicals maker Anupam Rasayan India fell 6.6 percent as against their issue price in their market debut.

RVNL declined 9 percent after the offer for sale (OFS) for the government’s 10 percent stake in the company opened today.

Indian indices ended nearly 2 percent lower on Wednesday as selling intensified, dragged down by financial, auto and metal stocks amid weakness in global stocks. Worries over the economic impact of a continued surge in domestic coronavirus cases also weighed on sentiment.

The Sensex ended 871 points lower at 49,180 while the Nifty fell 265 points to settle at 14,549.

Broader markets were also lower with both midcap and smallcap indices ending around 2 percent lower.

On the Nifty50 index, Cipla, Asian Paints, and Powergrid were the only stocks in the green while Tata Steel, Tata Motors, Adani Ports, Hindalco, and M&M led the losses.

Here are the key stocks that moved today:

Anupam Rasayan: Shares of specialty chemicals maker Anupam Rasayan India fell 6.6 percent as against their issue price in their market debut after the company’s Rs 760 crore initial public offering was subscribed more than 44 times. The specialty chemicals company raised Rs 760 crore through its public issue, which was completely a fresh issue. This would result in the promoter's stake reducing from 75.8 percent pre-IPO to 65.4 percent post-IPO.

Rail Vikas Nigam: The share price of Rail Vikas Nigam Ltd (RVNL) declined 9 percent after the offer for sale (OFS) for the government’s 10 percent stake in the company opened today. The government said it will sell 20,85,02,010 equity shares or 10 percent of total paid-up equity of Rail Vikas Nigam via OFS route on March 24-25. The government will sell additional 10,42,51,005 equity shares or 5 percent shareholding) in the company in case of oversubscription. The floor price for the offer has been fixed at Rs 27.50 per share.

Rossari Biotech: Shares of Rossari Biotech slipped 4 percent on profit booking after the company board gave a go-ahead to issue equity shares aggregating to Rs 300 crore on a preferential basis. The company said its board of directors approved the issuance of up to 3.01 million equity shares on a preferential basis and determined a floor price of Rs 996 per equity share or such a higher price, aggregating to Rs 300 crore.

KPIT Technologies: Shares of KPIT Technologies rose over 3 percent in an otherwise weak market on heavy volumes. On March 10, Kishor Parshuram Patil, the promoter of KPIT Technologies had sold 6.05 million equity shares (2.21 percent of the total equity capital of the company) worth Rs 94 crore of the company via the open market on the NSE and BSE.

Published : March 24, 2021 03:37 PM IST

Here are key stocks that moved the most on March 24

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